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FOR IMMEDIATE RELEASE London 13 October 2026 BP p.l.c. Trading Statement Third quarter 2026 trading statement bp The following Trading Statement provides a summary of BP p.l.c.'s ( bp ) current estimates and expectations for the third quarter of 2026 , including data on the economic environment as well as group performance during the period . The information presented is not comprehensive of all factors which may impact bp's group results for the third quarter 2026 and is not an estimate of those results . Also refer to bp's second quarter 2026 group results announcement on 4 August 2026 for third quarter and full year 2026 guidance items which continue to apply unless explicitly stated . A summary of that guidance is provided in the Appendix to this Trading Statement . All information provided is subject to the finalization of bp's financial reporting processes and actual results may vary . See the Glossary for a definition of guidance items included in this Trading Statement . bp's group results for the third quarter 2026 are scheduled to be published on 30 October 2026 . bp will host a strategy and outlook update on 15 December 2026 in New York City . bp's financial calendar is available at bp.com/financialcalendar . Updated 3Q 2026 guidance Earnings considerations for 3Q 2026 underlying RC profit before interest and tax , relative to 2Q 2026 : Reported upstream production in the third quarter is expected to be 2,190 to 2,240mboe / d ( 2Q 2026 : 2,201mboe / d ) , mainly reflecting seasonal maintenance recovery partly offset by bp's reduced equity interest in Latin America . Third quarter includes the impact of continued disruption in the Middle East and no impact from weather events in the Gulf of America . Within this , gas & low carbon energy is expected to be 775 to 795mboe / d ( 2Q 2026 : 765mboe / d ) . о oil production & operations is expected to be 1,415 to 1,445mboe / d ( 2Q 2026 : 1,436mboe / d ) . Gas & low carbon energy segment : realizations , compared to the prior quarter , are expected to have an impact in the range of + $ 0.1 to 0.3 billion , including the impact of changes in non - Henry Hub natural gas markers . The gas marketing and trading result is expected to be significantly higher compared with the second quarter . Oil production & operations segment : realizations , compared to the prior quarter , are expected to have an impact in the range of $ ( 0.2 ) to ( 0.4 ) billion including the impact of changes in non - Henry Hub natural gas markers . Exploration write - offs are expected to be significantly lower due to the prior quarter impact of the Bay Du Nord sale . DD & A is expected to be slightly higher due to a change in production mix . Prior quarter equity accounted earnings benefited from higher contributions in Latin America , which are not expected to repeat in the third quarter . Customers & products segment : compared to the prior quarter , results are expected to reflect the following factors : ○ customers - significantly lower result , driven by weaker fuels margins and higher base oil prices in Castrol , as well as a lower contribution from midstream , partly offset by slightly higher volumes due to seasonal effects . products - stronger realized refining margins in the range of + $ 1.9 to 2.1 billion . We expect throughput of 1,375 to 1,405mb / d ( 2Q 2026 : 1,467mb / d ) , reflecting the completion of the Gelsenkirchen divestment on 31 July and a lower planned turnaround and maintenance activity . The oil trading result is expected to be broadly flat compared with the second quarter . Other financial considerations for 3Q 2026 The group underlying effective tax rate for the third quarter is expected to be around 30 % , due to the geographical mix of profits . We will provide updated full year ETR guidance within our third quarter results . Net debt at the end of the third quarter is expected to be in the range of $ 13.5 to 14.5 billion ( 2Q 2026 : $ 22.3 billion ) . This reduction includes : О the redemption of $ 1.0 billion of hybrid securities on 30 September 2026. Remaining hybrid bonds and securities are expected to be around $ 12.0 billion at 3Q 2026 ( 2Q 2026 : $ 13.0 billion ) ; ○ higher income taxes paid of around $ 1.0 billion ; ○ working capital release in the range of $ 0 to 1.0 billion ; and ; capital expenditure of around $ 3.0 billion As a result , we expect the total of net debt , hybrid bonds , leases and Gulf of America settlement liabilities to reduce by around $ 9.0 to 10.0 billion compared with the second quarter .